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Exam (elaborations)

FL Real Estate TEST | Verified Q&A’s| Latest Update

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  • Course
  • Real Estate
  • Institution
  • Real Estate

FL Real Estate TEST | Verified Q&A’s| Latest Update

Preview 2 out of 13  pages

  • September 9, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Real Estate
  • Real Estate
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Examsplug
FL Real Estate TEST | Verified Q&A’s| Latest
Update
What is the turn around for all offers verbal or written - ✔✔24 hours



Failure to turn in an offer can be considered - ✔✔Breach of trust



Compensation is an agreement between the broker and who? - ✔✔the employers



When is a broker entitled to compensation? - ✔✔When a ready, willing, and able
purchaser has been located even if the sale is not consummated



If broker fails to pay sales associate it can be considered - ✔✔Failure to account



How many brokers can a sales associate be employed with at a time - ✔✔one



Sherman Clayton Anti Trust Act prohibits - ✔✔Uniform pricing or fee for services in
an industry, i.e., setting commission rates in a particular neighborhood



RESPA prohibits - ✔✔kick backs



Are referral fees illegal - ✔✔no, but the referring party may not participate in the
transaction



Policy and procedure manuals - ✔✔are nice but not required

, MLS - ✔✔Multiple Listing service tool



Arms length - ✔✔selling for your sister is not a arms length contract



Highest level of employment - ✔✔agency



Broker office requirements - ✔✔Must have at least 1 enclosed room in a stationary
building



Can a broker have an office in his home - ✔✔yes



Each new broker office must be registered with who - ✔✔DBPR



Can Sales associates have offices at home - ✔✔Yes but NO negotiations may take
place


What are broker requirements for opening and closing an office in the same location -
✔✔Must have a reissue



What are broker sign requirements - ✔✔They must have a sign at the entrance easily
visible by all



All signs must contain what - ✔✔A licensed brokers name



All advertising must have what - ✔✔Brokers name on it

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